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Home All Events - Ape O'Clock SyntheX Arbitrum Mainnet Launch


Apr 21 2023


9:00 am

Your Time

  • Timezone: America/New_York
  • Date: Apr 21 2023
  • Time: 5:00 am



SyntheX Arbitrum Mainnet Launch

April 20 update – there have been no further announcements from the team regarding the launch, and only 1 post in the Discord chat since April 15. It is unclear if this is still happening.

Mainnet launch of a synthetic asset issuance and trading protocol on Arbitrum.

The launch time for this event has not been announced, only that it is on April 21. This time is a placeholder.

  • Mechanics & Features
    • Trade crypto, stocks, commodities, forex synthetic assets
    • Users deposit collateral (e.g; USDC. ETH, WBTC) to borrow/mint synthetic tokens (e.g. cUSD, cBTC, cDOGE)
    • 100% debt collateralization ratio
    • When you mint synthetic tokens, you are allocated a share of the pool’s debt, and is dynamic based on the total debt of the pool
    • Users earn $esSYNX rewards by holding debt, which can be converted to $SYN at a 1:1 ratio
    • Synthetic tokens issued can be swapped, or used to yield farm to earn additional yield
    • In-built swap to trade between synthetic tokens
    • Users can redeem collateral by burning synthetic tokens
    • $SYN is the native token (not yet launched)
    • $SYN utility – participate in governance, receive share of protocol’s revenue
    • 30% of the protocol’s fees will be distributed to $SYN token holders
    • Roadmap features include perpetual trading with up to to 150 x leverage
  • Tokenomics
    • Token symbol: $SYN
    • Total supply: 1,000,000,000
      • 3.3% — Pre-seed sale
      • 9% — Private round
      • 9% — Strategic round
      • 10% — Public sale
      • 30% — Ecosystem rewards
      • 20% — Treasury
      • 12% — Team
      • 4.2% — Ecosystem development
      • 3.5% — Advisors
      • 3% — Early strategic partner